Published on 2/27/2024 in the Prospect News Structured Products Daily.
New Issue: RBC prices $3.88 million notes linked to basket of 20 Raymond James stock picks
By Wendy Van Sickle
Columbus, Ohio, Feb. 27 – Royal Bank of Canada priced $3.88 million of 0% notes due Feb. 10, 2025 linked to Raymond James Analysts’ Best Picks for 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are linked to an equally weighted basket of 20 common stocks selected by Raymond James.
The reference shares are Acadia Healthcare Co., Inc., Agree Realty Corp., Advanced Micro Devices, Inc., Antero Resources Corp., AutoZone, Inc., Boston Scientific Corp., CBRE Group, Inc., Copa Holdings, SA, Salesforce, Inc., Crocs, Inc., Flywire Corp., Globe Life Inc., IPG Photonics Corp., Roblox Corp., SentinelOne, Inc., Shake Shack Inc., T-Mobile US Inc., Travelers Cos., Inc., Wesco International, Inc. and Wells Fargo & Co.
Interest is payable quarterly. The amount of interest to be paid will depend on the total dividends paid on the reference stocks during the preceding quarter. The amount of interest will be the sum of the dividends multiplied by the 99.05% participation rate.
The payout at maturity will be par times 99.05% of the basket level percentage. Because of the 99.05% participation rate, investors will receive less than par if the basket does not gain by at least 0.96%.
RBC Capital Markets, LLC is the agent.
| Issuer: | Royal Bank of Canada
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| Issue: | Notes
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| Underlying basket: | Acadia Healthcare Co., Inc. (Symbol: ACHC), Agree Realty Corp. (Symbol: ADC), Advanced Micro Devices, Inc. (Symbol: AMD), Antero Resources Corp. (Symbol: AR), AutoZone, Inc. (Symbol: AZO), Boston Scientific Corp. (Symbol: BSX), CBRE Group, Inc. (Symbol: CBRE), Copa Holdings, SA (Symbol: CPA), Salesforce, Inc. (Symbol: CRM), Crocs, Inc. (Symbol: CROX), Flywire Corp. (Symbol: FLYW), Globe Life Inc. (Symbol: GL), IPG Photonics Corp. (Symbol: IPGP), Roblox Corp. (Symbol: RBLX), SentinelOne, Inc. (Symbol: S), Shake Shack Inc. (Symbol: SHAK), T-Mobile US Inc. (Symbol: TMUS), Travelers Cos., Inc. (Symbol: TRV), Wesco International, Inc. (Symbol: WCC) and Wells Fargo & Co. (Symbol: WFC); equally weighted
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| Amount: | $3,878,000
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| Maturity: | Feb. 10, 2025
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| Coupon: | Payable quarterly; amount will be 99.05% of sum of all dividends paid during the preceding quarter
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| Price: | Par
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| Payout at maturity: | Par times 99.05% of the basket level percentage; investors will receive less than par if the basket does not gain by at least 0.96%
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 7
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| Agent: | RBC Capital Markets, LLC
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| Fees: | 0%
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| Cusip: | 78015QHA2
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